Comerica (NYSE:CMA) PT Raised to $71.00 at The Goldman Sachs Group

Comerica (NYSE:CMA - Get Free Report) had its price objective lifted by equities research analysts at The Goldman Sachs Group from $63.00 to $71.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a "buy" rating on the financial services provider's stock. The Goldman Sachs Group's price target suggests a potential upside of 13.96% from the company's current price.

CMA has been the topic of several other reports. Morgan Stanley lifted their target price on Comerica from $63.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday. DA Davidson lifted their target price on Comerica from $64.00 to $68.00 and gave the company a "neutral" rating in a research report on Monday. Royal Bank of Canada lowered their target price on Comerica from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Wedbush upgraded Comerica from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price objective on Comerica from $43.00 to $51.00 and gave the company an "underweight" rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $62.57.

Comerica Stock Performance

Shares of CMA stock traded up $0.27 on Tuesday, reaching $62.30. The stock had a trading volume of 2,680,406 shares, compared to its average volume of 2,163,990. The stock has a market cap of $8.26 billion, a P/E ratio of 12.37 and a beta of 1.23. Comerica has a 1 year low of $37.40 and a 1 year high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The company has a 50 day simple moving average of $58.13 and a 200 day simple moving average of $53.83.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the business earned $1.84 earnings per share. Equities research analysts expect that Comerica will post 5.12 EPS for the current year.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comerica

Several hedge funds and other institutional investors have recently modified their holdings of CMA. Principal Financial Group Inc. raised its holdings in shares of Comerica by 1.2% in the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider's stock worth $8,867,000 after buying an additional 1,858 shares during the period. Commonwealth Equity Services LLC raised its holdings in shares of Comerica by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider's stock worth $4,793,000 after buying an additional 2,580 shares during the period. HB Wealth Management LLC raised its holdings in shares of Comerica by 7.5% in the first quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider's stock worth $282,000 after buying an additional 356 shares during the period. Mission Wealth Management LP raised its holdings in shares of Comerica by 11.3% in the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider's stock worth $348,000 after buying an additional 644 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Comerica by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider's stock worth $3,375,000 after buying an additional 7,418 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.